Zhipu surges 2,467% this year, Elon Musk predicts China's AI will catch up in the first quarter of next year

Golden Finance reports that on June 22, Hong Kong stock Zhipu (2513.HK) intraday surged up to 42.31%, with a highest price of 2,980 HKD per share, setting a new high again, with a total market value exceeding 1 trillion HKD.
As of now, from the lowest point of 116.1 HKD per share after listing in January 2026 to 2,980 HKD per share, the increase is 2,467% within the year.
Data shows that Zhipu is currently the AI company with the highest market value in China, and based on current market value, Zhipu's valuation is close to half of Alibaba (1.97 trillion HKD), two Meituans (435.3 billion HKD), and three JD.com (299.3 billion HKD).
On June 18, Tesla founder Elon Musk responded on social media to a netizen's question about "What is your expected timeline for China to reach Fable level? GLM-5.2 undoubtedly shortens the gap," saying "Perhaps (2027) Q1."
Later, Tsinghua University professor and Zhipu AI founder Tang Jie replied to Musk: "It won’t take that long."
And Musk seemed unwilling to show weakness, replying below: "Just looking at various benchmark tests, maybe so; but if judged by practical application value, even catching up by Q1 next year would already be quite impressive." (The Paper)
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